Richard Liu Qiangdong Is Reaching For The Top With JD.com

When it comes to business in China, Jack Alibaba has been the reigning king when it comes to selling online goods and having a large presence throughout the nation. He has also been a major figure throughout television and YouTuve, which has allowed him to become something of a celebrity throughout China. Despite this, there has been someone else in the same field that has managed to become one of the wealthiest men in the entire nation, Richard Liu Qiangdong. Richard has been able to rise tremendously in popularity over the past few years, especially now that he has the largest e-commerce platform in China.

 

Richard Liu Qiangdong coined the term JingDong, which is what JD.com is named after. Richard made this name while he was still working at a former company known as Magneto Optical Parts. This company was another of Richard’s, but it ended up closing down because of the SARS epidemic that swept over China. Richard Liu Qiangdong started this company back in 1998 and it did well all the way up until the epidemic hit. Following these events, Richard collaborated with his employees and through brainstorming, they come up with the idea for an online retail company. By going online, Richard could avoid putting customers and employees at risk during the epidemic.

 

After starting up his new online retail company, JD.com, progress was steady and within the first year, the company was able to double in size. The major reason for this was because Richard Liu Qiangdong kept incorporating new products to the platform for customers to buy. Go Here to learn more.

 

Year after year, JD.com was growing by leaps and bounds and eventually they were approached by one of the largest media platforms in China, WeChant, which is owned by Tencent. Tencent invested more than 200 million dollars into JD.com, putting that at a net worth over 1 billion dollars. Today, JD.com has grown to a net worth of more than 11 million dollars in US currency.

 

In an article on AACSB.edu, Liu was listed as one of the “Most Influential Leaders”. As a testament to Liu’s admirable business practices, he has received numerous national and international awards for his entrepreneurship, business influence, innovation, and leadership.

 

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The E-commerce Guru Richard Liu Qiangdong

 

Richard Liu Qiangdong is a Chinese internet entrepreneur who is dominant and aggressive. He is the founder, chair, and CEO of one of China’s largest e-commerce platform, JD.com. The platform is worth approximately $57.6 billion while Richard Liu is worth $11 billion. JD.com is the world’s third largest internet companies and has the support of prominent companies such as Walmart and Google. Walmart is among the shareholders of JD.com and has recently increased its stake by 12%. Liu plans to expand the online platform to Europe and Us after he is done with Asia.

 

Richard Liu graduated in 1996 with a degree in sociology from Renmin University of China. As a student, Liu devoted much of his time sharpening his computer programming skills by engaging in freelance coding work. Later, Li earned an EMBA from the China Europe International Business School. After graduating, Liu worked for a health products company, Japan life for two years. He held different positions in the company including the director for computers and director of business.

 

In 1998, Richard Liu ventured in entrepreneurship and opened a shop in Beijing selling magneto-optical products. He named the shop “Jingdong” a combination of the last name of his then-girlfriend and his own. By 2003, Liu’s business had grown exponentially, and he opened 12 more stores. Unfortunately, in the same year, there was a SARS epidemic forcing people- both staff and customers- to remain housebound. This was a blessing in disguise because Liu had to rethink his business model. He switched his operations from physical stores to online and founded JD.com –Jingdong Mall- in 2004. By 2005, Liu had closed down all his physical stores to focus on e-commerce.

 

At JD.com, Richard Liu Qiangdong sold electronics and various quality consumer goods. The company’s revenue hit $37billion and a market capitalization of $44 billion in 2014. In the same year, weChat acquired a 15% stake in JD.com for 215 million, and the e-commerce platform went public in the US. JD.com is among the leading e-commerce businesses in China with Alibaba being it’s a fierce competitor. See This Page for related information.

 

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The Full Scoop On Richard Liu Qiangdong And JD.com

 

Richard Liu is the successful 44 year old CEO of JD.com, largest e-commerce platform in China. Richard started business in 1998 and really started becoming successful in 2004 after the SARS epidemic forced him to sell online instead of in person. Currently including the value of the publicly traded stock, JD is worth over 57 billion dollars in aggregate. Richard Liu himself is worth about 11 billion dollars. As a matter of fact, Walmart is a 12% shareholder of JD’s stock. This is particularly interesting because in an interview recently, Richard Liu was quoted as saying that he wanted to model Walmart’s business model (despite having a product selection in the buildings compared to Walmart’s millions).

 

Richard Liu Quiangdong started out life with a degree in sociology from the venerable Renmin University in Beijing. However, he was more interested in computer programming and so attended the China Europe International Business School to attain his MBA. From his degrees he was able to obtain a job with the company called Japan Life, where he utilized his computer skills. View Additional Info Here.

 

He later branched out and formed his own company selling magneto-optical products, and his business was called “JingDong”: hence the name JD.com. Then the SARS hit in 2004, and the rest was history. Most recently, the founder of the billion-users-per-month platform WeChat invested 215 million dollars for a 15% stake in the company, thus valuing the company at over one billion dollars. This is when things started to get interesting for Richard Liu, where WeChat started aggressively promoting JD as part of the deal. 2 months from the start of this deal, JD then went public on the United States Nasdaq exchange and was one of the hottest IPO’s at the time. Currently, JD is now fighting for the number one spot in China against Alibaba and Jack Ma.

 

Visit: https://www.forbes.com/profile/liu-qiangdong/#711217232c0d

How JD.com Is Eliminating Industrial Hurdles In Chinese Market

JD.com, or Jingdong Mall as it is also known, has been trying to penetrate the Chinese market further and replace Alibaba as one of the largest online retail stores in China. However, there are several hurdles that the retail giant has experienced, which have caused JD.com to strategize again and come up with new policies that would help the entity to offers its services efficiently. Some of the hurdles and the necessary solutions have been discussed below.

 

According to JD.com, a significant number of consumers across the country have changed their consumption habits. For a more extended period, retail outlets were aware of the consumption habits of the consumers. However, it is difficult to predict what individuals want as they have significantly changed and each person has his or her unique consumption habits. This is something that retail outlets were not used to as they were always prepared to deliver similar products that would be consumed by all individuals around the world.

 

JD has brought strategies and policies that ensure that each customer can get what he or she wanted. It is evident that wealthy individuals in society have been demanding customized services from retail outlets. This is something that the majority of the organizations selling products have not been used to. However, the entities are coming up with policies and strategies that would help them to provide what customers want.

 

It has also come to the attention of JD.com that a significant number of individuals around the country are not conversant with online purchase of products, especially from the sites. This problem is easily detected in rural areas where most of the people have not been exposed to technological training. This problem can as well be identified in third-tier cities. Get Additional Information Here.

 

After realizing that there are a significant number of individuals who do not have the necessary skills in buying products online, the entity has embarked on training that would help individuals to learn on how to purchase products through online platforms. JD.com has also established various methods that are geared toward helping offline retail outlets in third-tier cities to provide quality services to customers with the sole aim of providing and enhancing retail experience.

 

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JD.com Continues Its Expansion By Partnering Up With San Miguel And Central Group

 

JD.com recently announced the further expansion into Southeast Asia with the partnership with Central Group (the leading retail conglomerate in Thailand), which resulted in the launch of the e-commerce platform JD CENTRAL. The new platform went live in late September of this year and is another step in JD’s expansion in the region, after the launch of an e-commerce platform in Indonesia, and an investment in Tiki, which is the leading B2C e-commerce business in Vietnam.

 

JD.com’s new platform became available for test operations in June, offering direct sales as well as marketplace models. Since June, sales have exceeded expectations, and products from Chinese companies proved to be popular among customers, the leading brands including OnePlus, Lenovo, Xiaomi, and Huawei. The platform offers everything from electronics, to digital products, to home appliances, fashion, cosmetics, and more. 80% of shoppers have accessed the platform through their cell phones, and among the top selling categories were mobile devices, fashion, and fast-moving consumer goods. Refer to This Article for more information.

 

The Chief Executive Officer of JD CENTRAL, Vincent Yang stated that with the launch of the platform, the company is delighted to be taking a step forward in JD’s journey to save customers in Southeast Asia. Their partnership with Central Group will provide Thai shoppers with a world-class e-commerce experience as well as 100% product authenticity, noted Yang. He also declared that this move will unlock boundless consumer potential of the country’s large population, and will transform the local market, the ultimate goal being to become the most trusted brand in Thailand.

 

It was also reported that San Miguel, a leading citrus company in the Southern Hemisphere, joined the e-commerce platform, offering fresh produce through the JD.com portal. The Chinese company announced in Honk Kong the initiative entitled “Global Fruit Strategic Alliance”, which intends to boost the vegetable and fruit market activity in the country. Besides San Miguel, 18 more fruit producers signed up, such as Wonderful Citrus and Zespri. The alliance recognizes San Miguel to be among the leading companies in the industry, and also boosts the business development via e-commerce. In addition, the initiative allows the company to expand its presence.

 

See also https://cointelegraph.com/news/jdcom-opens-institute-for-building-smart-cities-with-blockchain-and-ai